The 5 Essential Qualities of a Successful Leader in Business

Whether you are leading an entire company, a department, or a small team, if you want to be a successful leader in business, there are certain traits you must acquire. While being a leader is not a one size fits all position, the most successful leaders share a set of personality traits.  This blog post will outline the 5 common business leadership skills you will want to improve over time.

As you read these qualities, be sure to consider where you stand on a scale of 1-5, 1 being it doesn’t describe you at all and 5 being it describes you perfectly. If you find that your rating is a 3 or below, you want to think about developing your leadership skill in that area. It has been said that employees don’t quit their job, they quit their boss, so if you can ensure you’re the best leader possible, you will likely increase retention rates, productivity, and engagement within your company.

For more on improving employee engagement, get a copy of my book, 5 Tips to Improve Employee Engagement, for free. Decisiveness

Leaders are required to consistently.  Those who you lead look to you to take action that will move the company forward.  If you are unable to make decisions that will benefit your team, department, or company, you will be unable to succeed in a leadership position.

Decisions will sometimes need to be made quickly, so you must practice your ability to make choices that require quick, on the spot decision-making skills.

Other decisions are based on a long-term plan and require collaboration, strategy and more thought to be successful.

Leaders sometimes believe that to be a good decision maker they must do it independently, but often, making decisions will involve communicating with other stakeholders in the company from various levels.

Being able to communicate through the decision-making process and come to a conclusion that suits everyone involved is one of the signs of a real business leader.

Integrity

Integrity is your ability to be honest and behave in an upright manner.  As a leader, others are always looking at you to see how you react in situations and will see you as an example of what to do and how to move throughout the company.

You must carry yourself with integrity to be a leader that guides others.  You don’t have to be perfect and maintain a 100% squeaky clean image with no room for error, that’s difficult to manage, instead, be honest.  Be relatable. Be real with your team.

If you make mistakes, explain what happened and what could be done differently in the future. Do not put yourself in a position to fake being perfect, then let down your team when they realize that you are only human.

Also, do not take the idea that you are only human too far. You must always keep in mind that you are the example of leadership within your company.

Knowledge

As the leader in business, you have to know what’s going on in your company and your field.  You’re not required to be an expert on every topic within your business, but you should have a general understanding of most issues related to your niche.

In certain situations you won’t be able to provide the necessary resources or information, so it’s important to know where to quickly access information that’s required to move your company forward.

If you lack a strong knowledge base, people will see your deficiencies and recognize that you don’t know much about the area in which you call yourself a leader.

Endurance

Endurance is the ability to keep going.  As a leader in business, you must keep going because all eyes are on you.  If you’re unable to maintain endurance as the leader, others will see that it’s okay for them to stop when things get hard.

It’s an excellent teachable moment for your team to let them sometimes know when you are feeling tired or stressed and what you do internally to keep yourself going so you don’t quit.  They will see you as more relatable and hopefully learn from you instead of believing you’re a corporate robot who never has a bad day.

Also, when you lead others, they will turn to you as a shoulder to lean on when times get tough for them.  Having to motivate them to keep going and keep yourself going can be taxing, that’s why having enough endurance to support yourself and those around you is crucial.

Building a supportive company culture is a great way to lift the burden off everyone’s shoulder and improve endurance all around.

Imagination

When you hear the word imagination, you might envision crayons, glitter, painting and imaginary friends, but imagination is a an authentic and crucial quality of a leader in business.

Having imagination is the ability to develop an idea based on something that isn’t currently true and believe you have what it takes to make it come to life.  Any leader without the ability to imagine a better future for the organization in which it leads will always be holding back the company.

When Amazon offered first went public in 1997, and a share was only $18, Jeff Bezos, founder of Amazon, and his team imagined the company growing.  As of October 2018, Amazon stock is over $1,600 per share.

When Oprah Winfrey started her career as a radio personality in Nashville, TN, she imagined that her career would grow beyond her then position. Now Oprah’s net worth is 2.9 billion, not million, dollars.

Many successful people have had to imagine their success before they experienced it or imagine their business improvements, upgrades, significant changes and partnerships before they became real.  You must do the same.

When you are a strong leader in business, those who you lead will recognize it and respect it.  While many leadership traits vary from the 5 detailed above, be sure you have these established as a bare minimum set of qualities you concentrate on building.

 

Managing Conflict Resolution in the Workplace

When a company employs others, it’s likely that conflict resolution in the workplace will need to occur.  Sometimes, the conflict can be handled by the employees who are at odds, other times another employee or manager will have to step in.  Either way, resolving conflict in a timely and efficient manner is essential to the continued success of the company and positivity of the overall company culture.

When conflict resolution in the workplace is required, there are a few action steps that need to be taken to eliminate the differences and return focus to the matter at hand, company success.

Acknowledge

Conflict is bound to happen, so getting used to that idea and being willing to face it head-on is an invaluable skill. When issues are swept under the rug, they never truly disappear.  The knowledge of the dirty floor still lingers despite it being hidden.

When conflict appears, take the time to acknowledge that an issue is present and that a resolution must occur.  This is not the time to choose sides prematurely or make assumptions about what may or may not have happened. Instead, be open to the idea that there is an issue and be understanding that your employees are likely upset about the matter at hand.

Self Resolve

Many disputes can be resolved without the involvement of management.  Once you acknowledge an issue, encourage employees to sit down and attempt to solve the problem themselves.  When you give them the opportunity to resolve their problem instead of immediately stepping in, you set the precedent that resolving issues independently should be the first step.

Provide them with a timeframe to attempt to solve their problem and check back in with them.  If it has been resolved, great. You can check back in overtime to make sure the issue hasn’t resurfaced.  If not, continue with the conflict resolution process.

It’s important to exercise good judgment when deciding whether your employees can resolve the conflict themselves.  If the issue is ongoing, involves extreme disrespect, discrimination, harassment, etc., you wouldn’t expect them to handle it independently, and you should forego this step.

Express

When a person is upset, they want to vent their frustrations and feel heard. Giving your employees the opportunity to do so allows them to release their feelings which will make the conflict resolution process more productive.

Facilitate this process properly.  If both employees are in the room, ensure they’re not interrupting each other or displaying disrespectful body language.  Sometimes it’s best to hear both sides separately, then bring them together. You must do what’s best for the specific situation based on personalities, the nature of the conflict, and your company culture.

Policy

Sometimes conflict resolution in the workplace will be simple because the issue will directly violate company policy or the policy will have a detailed process regarding what’s to happen in the specific situation.

If there are guidelines, you want to follow them, if not, you must move forward in deciding on a solution that works best for the employees and company.

Solution

Now it’s time to determine what specific steps need to take place to resolve this conflict. It’s important to remember at this time that a full agreement doesn’t need to occur because sometimes employees will have to agree to disagree.  Instead, discuss what each employee would like to see happen and determine how they can find a middle ground. Any commonalities that can be agreed upon during this time is a significant step.

The solution stage should be tailored to your company culture, the issues at hand, and your employees, but there are a few parts of the process that should be included.  These were provided by the Human Resources Department at the University of California Berkeley.

Find multiple alternatives

Brainstorm various ways in which this problem can be resolved. Allow each member involved to provide input, so their voice continues to be heard.

Determine actions to be taken

Once a list of possible solutions is developed, determine the best course of action moving forward.  Consider the pros and cons, both logistically and emotionally for each option.

Get a verbal agreement by all involved

This step is critical. You want everyone to agree to the solution verbally as his or her acknowledgment that he or she will do their part in ending the conflict. If an employee refuses to agree, the odds are likely that the issue will repeat itself, and get worse as time goes on.  If this is the case you might consider bringing in a conflict mediator, or if insubordination is at play, a consequence might be needed.

Follow-Up

Completing the conflict resolution process is not a guarantee that the issue at hand will be resolved.  It’s best to check back in with those involved from time to time to determine whether the problem is continuing or if it is no longer prevalent.  

If the issue is still not resolved, again, it might be time to bring in a mediator, or if there is a case of insubordination, consequences might need to be given to certain people involved.

Having conflict in the workplace is never a fun thing to deal with, but sometimes resolving conflict can lead to better communication and ultimately a stronger bond between employees.  Never sweep issues under the rug. Bring them to the forefront and understand that it is your responsibility to maintain a positive and healthy environment of engaged employees and that’s difficult to do when there is no conflict resolution in the workplace.

If you want to learn more about maintaining engaged employees, you can download my free e-book, 5 Tips to Improve Employee Engagement. In this book, I break down best practices to get your employees engaged in your company’s success.

The Consequences of a Seniority-Based Promotion System

Upon entering the workforce, the goal is often to move up the corporate ladder.  That is done by receiving promotions within a company. An age-old debate among employers has been whether one should receive a promotion based on seniority, their time with the company or merit, their actions while employed.

While there are pros and cons to each promotional system, the benefits of promoting based on merit greatly outweigh the cons.  Offering promotions based on seniority can lead to high-quality employees developing a lackluster work ethic and even taking their skillset elsewhere as they look to advance in their career.

When deciding upon the best promotion system for your company understand that the decision you make will have an impact on the overall corporate culture. It’s best to take the time to map out your specific process via a thorough strategic planning process.

Decreased Motivation

When an employee develops the understanding that they will be promoted based on a seniority system instead of a merit-based system a reduction in motivation and engagement can occur.  This is because they realize despite how hard they work or if they go above and beyond the scope of their position, it won’t have an impact on if they receive a promotion. Therefore they begin to question why they should give their job 100% of their effort.

While many people love their jobs and the joy and satisfaction associated with their position are intrinsic motivators, the external motivating factor for many is an increase in pay and status.  Taking that away dramatically deflates their overall motivation.

Maintaining employee motivation and engagement can be a difficult task without adding promotion systems to the equation. If your company is struggling overall with keeping employee engagement high, you should review my free ebook, 5 Tips to Improve Employee Engagement.

Increased Turnover Rates

Highly skilled employees know their worth to a company.  They generally undertake expensive schooling, loads of professional development, practice, and training to reach their skill level.  Most employees don’t take on this level of dedication to remain stagnant in their career.

A seniority-based promotion system can lead to decreased retention rates as highly qualified employees who are passed up for promotions due to lack of seniority leave the company to find positions that will recognize and reward their abilities.

A high turnover rate then leads to more employees entering the company who are lower on the totem pole and less likely to receive a promotion.  The cycle then continues.

Decreased Efficiency

A culture of decreased efficiency can occur when a seniority-based promotion system is put into place.  Both employees with seniority and those without will be less motivated to perform at high levels for different reasons.

Those with seniority know that their odds of getting a promotion are high based solely on their number of years with the company. They don’t have to perform at an optimal level because of their tenure.  

Those without seniority, as stated previously, know they will not receive a promotion, so without that as a motivating factor, they don’t give 100% to their position.

A seniority-based promotion system also rids the company of the healthy competition amongst employees that sometimes leads to better job performance.

Increased Frustration

Imagine giving your all to a company and continually being looked over for a promotion because you haven’t been employed for a certain number of years.  Instead, you watch those will lesser abilities promoted to higher level positions year after year. A certain amount of frustration builds within you when that is your vantage point.

This frustration is what leads to decreased motivation, decreased efficiency, and increased turnover rates within a company.

Promotion Criteria

Though there are downfalls to a seniority-based promotion system, a merit-based promotion system can also have its difficulties.

When merit-based promotions are in place, there is often fear that those who are more popular or have a better relationship with the management team will receive a promotion first.  That naturally can also lead to increased frustration and turnover rates along with decreased efficiency and motivation.

If a merit-based system is put in place, it’s best to ensure that there is a standard for promotions that is consistent and impartial.  Everyone should be aware of the general criteria considered when promotions are given, and those in charge of promoting should use these specific criteria for each promotion. You should always be able to provide a clear explanation as to why the person you promoted received the promotion over others who were also eligible.

Knowing that promotion selections are impartial and consistent decreases the feeling that merit-based promotions are based more on relationships than actual work-related skills.

Merit and Seniority Hybrid

Some companies have found the best system for promotions to be one that combines the merit-based system with the seniority-based system.

This system considers both with employee merit being the primary criteria and seniority being part of the secondary criteria.

A hybrid promotion system allows companies to take the work of the employee into consideration while also giving preference to the employees who have been with the company for an extended period.

In this situation, if employee A and employee B have a similar work ethic and results, the employee who has been with the company longer would receive the promotion.

Moving Forward

Whether your company chooses to promote based on merit or seniority, it’s vital that the system be as fair and impartial as possible. Your goal should be to develop the best team within your organization and to keep those highly skilled employees you must create systems that are understood by all and fair.

Without a proper promotion system in place, you risk the chance of losing high-quality employees who otherwise would have remained within your company.

Improving C Suite Communication With All Company Levels

Reaching the C Suite is considered the ultimate goal of many employees working in the business world. The C suite, also known as the upper management department houses top senior executives within a company.  Once you’ve reached the C Suite level, you are charged with maintaining a demanding workload and making high stakes decisions regularly.

As a member of the C Suite maintaining communication with those at lower levels of a company can become a struggle, but it doesn’t have to be.  Below you will find ways in which you can improve the communication of C Suite executives with all levels of your company.

Company Levels

Most large companies have multiple management levels tasked with various responsibilities within the organization.

Upper Management

The upper management team is also known as the C Suite.  It’s called the C Suite because most senior executive titles start with the letter C including…

• Chief Executive Officer (CEO)
• Chief Financial Officer (CFO)
• Chief Operating Officer (COO)
• Chief Information Officer (CIO)

Middle Management

The middle management team is composed of the heads of a division or department.  They are responsible for managing other middle managers or the lower level management team.  They often have the titles of director or Vice President

Lower Management

The lower management team oversees the daily business operations of a company.  They have titles such as supervisor and office manager.

Communicating With Discretion

When talking with those at lower levels, you must understand what can and can’t be shared. Many conversations held at the C Suite level are sensitive in nature and are not to be revealed to those outside of the C Suite for various reasons.  While you want to communicate with those outside of the C Suite on a regular basis, you want to ensure that you are not leaking sensitive information.

Terminology

Those within the C Suite often utilize terminology that differs from those on lower levels.  You want to refrain from using complicated verbiage and acronyms especially if you feel those in lower level positions won’t fully understand what you are referring to.  Instead, use layman’s terms. You don’t want your employees to feel as though you are disconnected from them and who they truly are. One of the best ways to ostracize yourself is to communicate in a way that doesn’t connect with whom you’re having a conversation with.  

Understand The Culture

Every company has its own corporate culture, and quite often various departments and company levels have their own mini company culture as well.  The way things operate within the C Suite will often be different than how things are in the lower management realm.  It’s crucial that you develop a general understanding of the culture that’s present in all areas of the company.

This is similar to the role of a United States President.  He/she must be flexible, able to eat lunch with the ruler of a nation and a school teacher within the same week.  This wouldn’t be possible without an understanding of the culture of the various people in society.

Remain Visible

Visibility is crucial to maintaining communication with various levels of the company.  

Obviously, every employee should know who you are by name and face. However, they should also have the opportunity to speak and connect with you when possible.

As the size of your company grows, that can become increasingly difficult, but it isn’t impossible.

Send newsletters to employees addressing topics that are important to them. Record video messages regarding various issues which allows you to connect in a more personable manner than a print message.

Have roundtable discussions with members of the lower levels.  This is best done in a smaller group setting maybe via a brown bag lunch series or departmental meeting.  When you schedule these meetings ahead of time and make them a priority, you can ensure you’re getting face to face time with those in your company to maintain visibility.

Stay Connected

Above all else, you must develop an understanding of what’s going on on the ground floor of your company, both good and bad.  Acknowledge the positives that are taking place with praise. Also, acknowledge the struggles and concerns and put steps in place with the person responsible for those issues to make necessary improvements.

You can stay connected by remaining visible.  When your employees are used to seeing you and interacting with you, they are more likely to feel comfortable communicating with you about what’s going on within the company.

You can also stay connected through the use of surveys, polls, questionnaires, etc. to collect information regarding what’s working well and what’s not working well within the company.

This qualitative data is sometimes more impactful than focusing solely on quantitative metrics in business.  It helps to maintain a human connection with those in the company.

Above all else remember that you are a human working with humans.  Despite your title. Despite your salary. Despite the high impact career level you’ve risen to, everyone should be treated with the same respect and human connectedness across the board.

Moving Forward

As a C Suite Executive, you have a great deal of responsibility on your plate. Maintaining strong communication skills with those in your company should remain a priority throughout your tenure.  

To ensure it maintains a priority, make it a mission in your strategic planning process and revisit the progress you’re making overtime.

A strong and successful company is built from the top down, so establishing a culture with highly engaged employees who produce amazing results begins with you. A little communication can go a long way as a C Suite executive.

Top Reasons for Leaving a Job – Why Good Employees Quit

Finding a highly skilled, hardworking and consistent employee to join your team can be a difficult task.  Some companies find it just as challenging to decrease turnover rates of their best employees.

The reason an employee chooses to resign can vary widely.  Some get married and move to another state. Others decide to start their own business.  They might have a baby and decide to stay home or even win the lottery. Those are all based on circumstances that have more to do with their personal lives and less to do with the decisions made by their managers.  

The other reasons good employees quit their jobs are often directly related to their employer.  Poor management, lack of advancement opportunities, and the inability to maintain a work/life balance are some of the reasons given by good employees who choose to quit their jobs.

When you are dedicated to keeping the employees you manage satisfied and employed with your company, you must first develop a firm understanding of the top reasons why good employees leave their jobs.

Poor Management

Wendy Durante Duckrey, Vice President of recruiting at JPMorgan, is famously quoted as saying,  “most people don’t quit their jobs; they quit their boss.”

It is also one of the top reasons good employees give for leaving a job.

When an employee feels supported, encouraged, and motivated by their superior, they will work harder for them, and remain more dedicated to their position.

If they feel their needs are not being met and their concerns are not being addressed, they are less likely to remain with the company, not due to the job itself, but due to management issues.

Unfortunately, there appears to be a lack of proper training for many who enter into managerial positions.  It involves more than paperwork and tracking metrics. Managers must have strong people skills and the ability to develop relationships with those who work under them.

Otherwise, employers who struggle to manage their employees will continue to face the harsh reality that goes along with high turnover rates.

Feeling Undervalued

There’s nothing worse than going to work every day, doing your job to the best of your ability, being expected to go above and beyond your required tasks, and feeling underappreciated and undervalued by those at your job.

It is one of the fastest ways to decrease employee engagement and to lose a good employee.

You can make your employees feel valued in many ways including:

• Acknowledging their hard work publicly
• Providing them with a physical token of appreciation
• Offering incentives such as a half day off after reaching a big goal
• Buying them lunch
• Giving them a card expressing your appreciation

The ways in which you can make your employees feel valued are endless and can fit any budget your company has.

While all employees should be made to feel appreciated, it’s especially important to do this for employees who are continually working hard and taking on additional responsibilities beyond what they’ve been hired to do.

Lack of Advancement Opportunities

Most employees want to feel challenged in their career.  Being in a job with no advancement opportunities, be it their position or a significant salary change, will often lead to the search for new employment, especially when they recognize their value as an employee.

It’s important to give employees an opportunity to stay with your company as they improve their skills and advance in their career.

You can do this by making new job opportunities known to employees within the company, so they have first dibs before bringing in outsiders.

Also, check in with your employees at minimum once per year to discuss their career goals.  This will allow you to gain an understanding of how your employees are feeling regarding their current position and hopes for the future.

Also, offering educational opportunities and tuition reimbursement opportunities can provide your employee with a reason to remain with your company while gaining skills that can lead to advancement in the future.

Feeling Overworked

Today more than ever, the desire to have a career that still allows for flexibility, time with family and friends, and a healthy personal life is at the top of many employees’ list.

When employees are overworked, it reduces their ability to maintain a healthy a work/life balance.

It’s often found that good employees who show their ability to handle their job and take on additional responsibilities find the weight of their department placed on their shoulders.  While it might be seen as a way to show your trust in the employee, it is actually a form of punishment. It shows that when an employee performs well, they are rewarded with additional work and no salary increase.

When you want to give an employee additional responsibilities, it should be a non-negotiable that a salary increase or position advancement comes along with those added responsibilities.

Keeping Good Employees

If your goal is to keep your good employees working with your company, it’s crucial that you stay abreast of their needs and wants career wise.  In most situations, a highly skilled employee will be able to find another position, so you must consider what you need to do to keep them with your company.

Understand that you are working with people. People who have families.  People who have personal lives. People with dreams, wishes, and goals. People with feelings.

When you keep that at the forefront of your mind, you will treat your employees like real people and your good employees will recognize your humanism and be more likely to stay around.

When you treat them like they’re disposable, they will dispose of their position and find another.

As you work to ensure your employees remain within your company, it’s also vital that you keep employee engagement high.  It is one of the key factors to maintaining low turnover rates within a company.

If you’re searching for a resource that will help you maintain a workforce that is highly engaged, download a free copy of my book, 5 Tips to Improve Employee Engagement which features best practices for getting your employees involved in your company’s success.